The Reserve Bank of Australia (RBA) released the minutes of its May policy meeting, revealing that the central bank considered raising interest rates but ultimately decided to keep them unchanged. The minutes highlighted concerns over increased inflation risks, with recent data indicating a rise in inflationary pressures. The RBA emphasized the importance of returning inflation to its target and noted that short-term variations in the Consumer Price Index (CPI) can be reasonably overlooked to focus on long-term trends. The bank also stated its limited tolerance for CPI reaching the target after 2026.
RBA Minutes: Considered Rate Hike, Judged Unchanged Case To Be Stronger - Recent Data Signalled Inflation Risks Had `Risen Somewhat’ - Reasonable To Look Through Short-Term Variation In CPI - Will Do What’s Necessary To Return Inflation To Target
The Reserve Bank of Australia has stated that short-term fluctuations in the Consumer Price Index can be reasonably ignored in order to focus on long-term trends. #RBA #CPI #economy
RBA: LIMITED TOLERANCE FOR CPI REACHING TARGET AFTER 2026
RBA minutes: Considered whether to raise rates https://t.co/OCwaF9zpHh
RBA: RECENT DATA RAISES RISK INFLATION STAYS ABOVE TARGET FOR LONGER
RBA: RECENT DATA POINTS TO SOMEWHAT INCREASED INFLATION RISKS
RBA: CPI SHORT-TERM VARIATION CAN BE REASONABLY OVERLOOKED
RBA: PRIORITY IS TO BRING INFLATION BACK TO TARGET
RESERVE BANK OF AUSTRALIA RELEASES POLICY MEETING MINUTES FOR MAY
“Future Inflation, Made in Australia” https://t.co/8gsw9PK3jy